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US stocks edge higher amid trade talk uncertainty
NEW YORK, May 8, 2019 (BSS/AFP) – After two straight declines spurred by
trade war fears, Wall Street stocks were mildly positive early Wednesday on
the eve of a key round of US-China talks.
About 20 minutes into trading, the Dow Jones Industrial Average had edged
up 0.1 percent to 25,980.89.
The broad-based S&P 500 added less than 0.1 percent at 2,885.16, while the
tech-rich Nasdaq Composite Index also gained 0.1 percent to 7,973.35.
Stocks fell the last two sessions after US President Donald Trump
threatened to more than double the existing tariffs on China starting Friday,
after accusing Beijing of backing off commitments in the months-long talks.
But negotiations are set to resume in Washington on Thursday and Friday,
and Trump raised expectations for a successful conclusion after all.
“China has just informed us that they (Vice-Premier) are now coming to the
US to make a deal,” Trump said on Twitter, referring to top Chinese trade
envoy Liu He.
“We’ll see but I am very happy with over $100 Billion a year in Tariffs
filling US coffers…great for US, not good for China!” Trump tweeted,
repeating the erroneous statement that tariffs are paid by China, rather than
by American businesses and consumers.
BSS/AFP/SR/2000 HRS